Just as shopping for a home includes the evaluation of many different home styles and options, finding the right mortgage product is just as important. First Federal Bank lenders will provide you with professionalism and experience while offering you competitive interest rates and outstanding, local service. Our job begins with fully understanding your needs and both your short and long term goals. We will discuss various options with you to determine what type of financing is ideal for your situation. We then evaluate the market and all of our current products, rates and underwriting guidelines to find the very best loan product for your needs.

It wasn't long ago that a 30 year fixed rate mortgage was your primary option. Today, many popular loan programs exist. We have provided the descriptions of the basic loan programs available to help you understand the benefits and drawbacks of each of the various types of mortgages. And don't forget that First Federal Bank can provide you with a Free Pre-Qualification Analysis so you'll know the amount of loan you'll qualify for before you go house hunting.

STEP ONE: Evaluating your loan program

How important monthly payment stability is to you.

Your ability to qualify at market rates for the loan amount selected.

How long you plan to stay in the home.

Expectation of stable versus rising or declining income.

Level of current market rates - high versus low.

Possibility of significant rate changes.

Existence of up-front costs.

Your desire for rapid home equity build-up.

STEP TWO-- Apply Now! Getting started is easy

When you've selected a property and have a contract with the seller, or have made the decision to refinance your home, the next step is to complete your loan application, which can be done easily through our website. To get started, select "Apply Now" from the list on the left.

At the appropriate time we'll order a property appraisal for you.

STEP THREE -- Your Loan is Approved and Funded

Your lender will designate an Escrow/Title Company to handle the closing of your loan, along with many other factors which make your purchase go smoothly.

We will coordinate with the escrow team and you'll sign the final papers at their office.